Online Casino Strategies: Can they Really Help?
Online casinos have been providential additions to the gambling world as they give the player fun, and the ease of playing games from anywhere and win as much as is potentially possible from the game, with an array of games such as, poker, slots, blackjack, roulette, and so on. However, every player knows that getting a win regularly at the casino and sometimes even at all can be a big hurdle. And it’s no surprise seeing that random chance is at the heart of all casino games. Despite this, a player’s chances of winning can be significantly increased if certain effective strategies are applied to his play.
- Gambling strategies help in making profit at
- They help the punter to manage his bankroll properly
- They help the player to gamble responsibly
Online Casino Strategies
There are two reasons why players would play: - fun while gambling or else, to win money. While it is also important to have fun when playing at online casinos, it is also vital that players have a designated purpose and go into the game with realistic expectations. You can’t sign up with the aim of just winning. You need to be realistic about losing as well. Even if you think you’re the best slots, poker, roulette, blackjack or table game player, the edge affects the odds of every type of player. Luck also has a strong role to play every time.
Having online casino strategies in place, recognizes the fact that there is a house edge, that you have a set casino bankroll management, and are aware of various problems that a player might encounter. As a player, you would want to get the best gaming experience as possible so going prepared will help you.
Useful Schemes to Manage the Bankroll
Gambling responsibly best helps a player to play correctly and preserve his capital, and this is something that cannot be done without a correct management of the bankroll. When a player has a bankroll management that guides his bets, he automatically has self-control which is very important and will help in managing the eventuality of either a losing streak or otherwise.
- In the event of a losing streak: A losing streak, as has been stated earlier is an eventuality, as it will definitely happen. More experienced players know how to handle this event compared to novice bettors, usually with a good management scheme for their bankroll, or the common sense to pause on the stakes. This requires discipline.
- In the event of a winning streak: The situation is not different for a player on a winning streak because this event can cause the player to stake massively forgetting the ever-present possibility of a loss. A bankroll management scheme however prevents such an occurrence. Increasing the stake size could even be a process that can be applied if it is part of the plan that the player employs in managing his bankroll. Building bankroll management skills is one of the first skills and maybe the most important one necessary for every player to bet responsibly and manage wins or losses when gambling.
Bankroll Management Strategies
As it has been pointed out in the few tips earlier, bankroll management strategies are very important tips, and can give the player’s odds an edge when gambling, to play any game especially beginners. Each player can select a gambling strategy that is suitable to get him the best odds, and try his hand at others too if the casino strategy is not working for the player. Below are some popular casino strategies:
Fixed Stake/Flat betting strategy
When the player bets the same amount of money (usually a fixed percentage of the bankroll) on every bet he makes, he is using the fixed betting plan (also known as ‘flat betting’). Take for instance, if a player opts to employ a flat betting strategy in his wagers deciding on using 1.5% of a $100 bankroll belonging to him, the implication is that every bet he has decided to make will be made with 15$. However, if the player is on a losing streak, and he keeps betting with the $15 as in our case, the percentage of the money being staked compared to the current bankroll is higher, thus making the games riskier. This obvious risk can play on the mind of the player, especially amateur player and if they do reduce the amount they bet with and the losing streak changes to a win streak, the losses on their bankroll will probably not be recovered because the size of the money the player uses to play the game with is smaller, whether it is blackjack, slots or poker.
The player can manage this risk by wagering with the amount that has been calculated as the percentage of the current bankroll; this is called the ‘percentage staking plan’. So for $1000 1,5% will be $15, for $1200 - $18 and for $800 - $12.
The Fibonacci betting strategy
The Fibonacci sequence of numbers (1, 1, 2, 3, 5, 8, 13 and so on), which is the reason for the name of this casino strategy, dictates the manner in which the stakes for a game will be made in this strategy with the numbers representing the pattern that the player’s bets must follow at any given time. This gambling strategy leaves players conflicted. The player places his bets on draws only. If a bet is lost, the player bets again and again till he realizes a profit in his bankroll. Placing bets on probabilities higher than 2.618 is recommended with this gambling strategy. However, the chances of the player moving to the next Fibonacci number after placing multiple bets on draws is very low, and this is a major disadvantage.
For instance; if the Fibonacci betting strategy is the casino strategy of choice by the player, a certain amount must be fixed representing one unit, e.g. $20. This implies that $20 is the first bet that would be placed on a draw, and if the bet is lost the player the player must adhere to the sequence and bet $40 which is two units of the original amount according to the sequence. This is repeated according to the sequence until a win is made, after which the player is required to move down the Fibonacci sequence by two places. Using our instance created earlier, if the player wins only after 13 units has been wagered (which is $260) his next wager is required to be 5 units which in this case would be $100.
Other methods for managing the bankroll include:
- The Kelly Criterion Strategy
- The Martingale Betting Strategy
- Developing custom betting strategies with online software
Understanding the House Edge
Casinos have built-in advantages that work to help them make profit, known as the house edge. The edge is about 5% in roulette, which translates to the casino keeping 5¢ as profit for every one dollar that the player places on a bet, and returning the remaining 95¢ which is the winnings of the player.
This advantage explained above occurs on average, because of course if you bet a single dollar you will either lose or win and not going to get exactly 95¢ back. The player’s losses move closer to the edge the longer he plays as the edge indicates the average of players bets that the casino will win. For instance, over the course of the year the casino is certain to win around 5.26% of all the players bets.
This also happens to individual players when they constantly re-bet at casinos, and this effect is known as the grind. Playing games with a lower house edge and playing for shorter periods of time can help avoid this effect.
Some Popular Casino Games and Their Respective House Edges
Depending on the game the house edge may vary – slots, blackjack, roulette, poker and so on do not have the same edge. Some of the popular ones have the following house edge:
GamesHouse Edge (with proper play)Maximum Payoff per unit bet
|Blackjack||0.5%||1.5 to 1|
|Craps, 1x Odds||0.8%||2 to 1|
|Video Poker||0.5 to 5%||800 to 1|
|Baccarat||1.06%||1 to 1|
|Roulette||5.5%||35 to 1|
|Slot Machines - flat top||0 to 17%||5,000 to 1|
|Slot Machines - progressive||5 to 17%||millions to 1|
|Keno||25%+||thousands to 1|
The Importance of the House Edge
As indicated earlier, on average, the lower the house edge the lesser the money a player will lose compared to a higher house edge generally. Additionally, favoring low-edge games generally increase the player’s likelihood of gaining. Other factors to put into consideration that could influence the player’s average loss in conjunction with the edge include:
- Total hours played (HP)
- Speed of play (rounds per hour) (S)
- Average bet size per round (ABS)
These factors in conjunction with the house edge can be used to calculate the average loss using the equation below:
Average loss = ABS × house edge × S × HP
Bet with Efficient Online Casino Strategies
Gambling with an online casino comes with so much risk that some punters may be discouraged to even make any bets. Because why make bets when things such as the randomness of the games and the house edge of the casino are existing and nibble away at the punter’s bankroll? And the answer is simply because, there is a chance of winning. That is the singular reason why players come back again and again to place their bets. The tips that have been explained in this article are proven and following them wisely will definitely increase your chances of winning at the casino. You can head over to any of the casinos that have been provided on our online Casino comparison page to try out any of your preferred strategies and increase your chances of winning.
Conclusion:Strategy is Everything
Online casino betting comes with various risks such as the house edge and the sheer randomness of the casino games, all of which have been explained earlier. The online casino strategies that can be employed to increase chances of winning involve players setting aside money for betting purposes, applying any of several bankroll management schemes, as well as knowing what to expect when placing bets based on the house edge of the casino. These help the player to be disciplined and to bet responsibly, since its highly unlikely for irresponsible bettors to have high chances of winning.